Small business accounting can quickly become complex if you do it on your own. If you feel you’re losing control of who owes you money and how much, an accountant can help you get back on track.
You may also want to measure key business metrics, such as the ratio of salaries and other employee payments to total revenue. An accountant can help here by managing your payroll and producing graphs so you can see how the ratio changes over time.
A good accountant will be able to:
- Complete and file the required legal and compliance documents for your business
- Keep your company up to date with the latest tax laws
- Prepare annual statements of accounts
- Keep your company’s status updated in the government’s company register
- Maintain records of directors and other administrative personnel
- Organize and record share/stock allocation, such as when the business is formed, when a business partner leaves or a new partner joins
- Handle your payroll and ensuring that all employees’ tax codes and payments are recorded correctly.
This post was written by firstdownadmin